Alibaba to invest S$187.1m in SingPost, to raise stake to 14.51%

SingPost and Alibaba Group are expanding their partnership, the companies announced Wednesday.

The deal will see Alibaba inject $67.85 million (S$92 million) into Singpost unit Quantium Solutions International (QSI). This increases Alibaba’s equity stake in QSI to 34 per cent, with SingPost holding the remaining 66 per cent. Alibaba will also buy 107,553,907 new SingPost shares equivalent to 5 percent stake in the postal group for S$187.1 million.